Fable developer Lionhead will be shut down today after no potential buyers could be found.

Last month, Microsoft revealed that it was ceasing development of Fable Legends. It said at the time that it was in discussion with employees about the possibility of closing the studio.

Over the six-week consultation period, Microsoft attempted to woo potential buyers, but none were found to be interested. As a result, Lionhead will close today.

A Microsoft spokesperson said, "We can confirm that after much consideration over the six week consultation period with Lionhead employees, we have reached the decision to close Lionhead Studios. We have nothing but heart-felt thanks for the team at Lionhead for their significant contributions to Xbox and the games industry."

The studio was founded in 1996 and released titles like Black & White, the Fable series, and The Movies in its 20-year lifespan.